Chiyoda and Ezra move closer

Chiyoda and Ezra move closer

Singapore’s Ezra Holdings’s proposed subsea services joint venture with Japan’s Chiyoda Corporation has moved a step closer with a binding share sale and subscription agreement. Chiyoda is buying into a UK-registered Ezra vehicle, EMAS-AMC Holdings whereby Chiyoda will hold a 50% in the subsidiary. Chiyoda will pay $180m for the 50% stake.

Chiyoda, an engineering company, is coming in for Ezra’s subseas business as it looks to get more into the offshore space. Ezra specialises in the subsea installation of umbilicals/power cables, pipelines as well as platforms, floating platform storage offloading and floater installations. Chiyoda and Ezra’s joint venture has been valued at $1.25bn when it was first announced at the end of last month.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Related Posts